Financial Performance - Total reported revenue increased by 145% year-over-year, reaching $4196 million in Q2 2019 compared to $3672 million in Q2 2018[9] - Adjusted OIBDA increased by 147%[7] - AFFO increased by 247%[7] Revenue Breakdown - Billboard revenue increased by 86% year-over-year[12] - Transit & Other revenue increased by 285% year-over-year[12] - Local revenue increased by 98% year-over-year[15] - National revenue increased by 202% year-over-year[15] Digital Performance - Digital revenue increased by 242% year-over-year[57], reaching $662 million in Q2 2019 compared to $533 million in Q2 2018[57] - Static revenue increased by 102% year-over-year[18] Capital Allocation and Liquidity - The company has $100 million in unrestricted cash and $430 million available from a revolving credit facility as of June 30, 2019[47] - Total debt outstanding (face value) is $2820 million, resulting in a net leverage ratio of 46x[47] Non-GAAP Financial Measures - The report includes non-GAAP financial measures such as organic revenues, Adjusted OIBDA, and AFFO to supplement GAAP financial measures[4]

U S Media Performance - U S Media reported revenue increased by 11 7% [8] - U S Media Adj OIBDA increased by 8 5% [8] - U S Media AFFO increased by 7 2% [8] - Total U S Media revenue increased from $379 7 million in 3Q18 to $422 7 million in 3Q19, an increase of 11 7% [10] - Billboard revenue increased by 7 9% from $271 3 million in 3Q18 to $292 8 million in 3Q19 [14] - Transit & Other revenue increased by 19 8% from $108 4 million in 3Q18 to $129 9 million in 3Q19 [14] - Local revenue increased by 12 2% from $204 2 million in 3Q18 to $229 1 million in 3Q19 [16] - National revenue increased by 10 4% from $175 5 million in 3Q18 to $193 6 million in 3Q19 [16] Digital Revenue - Digital revenue mix increased from 18% to 20% year-over-year [19] - Billboard digital revenue increased by 20 2% year-over-year [25] - Transit & Other digital revenue increased by 17 6% year-over-year [25]

Financial Performance - Total revenue increased by 79% year-over-year from $4524 million in 4Q18 to $4881 million in 4Q19[11] - US Media revenue increased by 93% year-over-year from $4100 million in 4Q18 to $4480 million in 4Q19[14] - Adjusted OIBDA increased by 55% year-over-year from $1438 million in 4Q18 to $1517 million in 4Q19[52] - AFFO increased by 82% year-over-year from $980 million in 4Q18 to $1060 million in 4Q19[62] Revenue Breakdown - Billboard revenue in US Media increased by 72% year-over-year[14] - Transit & Other revenue in US Media increased by 138% year-over-year[14] - Local revenue in US Media increased by 109% year-over-year[18] - National revenue in US Media increased by 73% year-over-year[18] - Digital revenue from billboards increased by 1020% year-over-year[32] Digital Initiatives - Digital billboard revenue reached $832 million in 4Q19[32] - Digital transit and other revenue reached $301 million in 4Q19[96] - The company deployed 837 new digital station displays in 4Q19, bringing the total to 4505[82] Capital Expenditures - Total capital expenditures increased from $202 million in 4Q18 to $245 million in 4Q19[58] - Maintenance capital expenditures decreased from $50 million to $31 million[58] - Growth capital expenditures increased from $152 million to $214 million[58]

Q3 FY25 Financial Performance - Net sales increased by 1% to $156.9 million, but would have increased by 2% excluding currency impacts[12] - Gross margin improved by 310 basis points to 56.2%[12] - Net income increased by 6% to $21.0 million[12] - Diluted EPS increased by 5% to $1.54[12] Segment Performance - Americas segment sales increased by 4%, representing 50% of global net sales[14] - EIMEA segment sales decreased by 5%, representing 36% of global net sales[17] - Asia-Pacific segment sales increased by 7%, representing 14% of global net sales[21] Growth and Strategy - The company targets mid-to-high single-digit CAGR for total company maintenance product sales[30] - The company is focused on four must-win battles: lead geographic expansion, accelerate premiumization, drive WD-40 Specialist growth, and turbo-charge digital commerce[34] FY25 Guidance (Pro Forma) - Sales growth is narrowed to between 6% and 9% over 2024 pro forma results, with net sales between $600 million and $620 million[53] - Diluted EPS is increased to between $5.30 and $5.60[53]

Financial Highlights - Ondas expects to report approximately $6 million in revenue for Q2 2025, a 6-fold increase compared to Q2 2024[29] - The company estimates its backlog at $22.8 million, adjusted for the expected Q2 2025 revenue[29] - Ondas anticipates total revenue of $25 million for Ondas Holdings in 2025, with at least $20 million expected from OAS[29] - Convertible notes outstanding were reduced to $5.4 million at the end of Q2 2025[29] - The company's cash position is fortified with over $67 million as of Q2 2025[29] Market and Growth Strategy - NATO's commitment to increase defense spending to 5% of GDP by 2035 represents a significant shift, potentially leading to $1.2 trillion in annual defense outlays[40, 41] - The FY2025 bill allocates approximately $21.2 billion to programs relevant to Ondas' capabilities and services for governmental defense and security applications in the U.S[44] - The Optimus drone-in-a-box market is projected to reach $1.5 billion in 2025[118] - The counter-drone market, relevant to Iron Drone Raider, is projected to reach $3 billion in 2025[121] Future Outlook - OAS targets revenue of $40 million in 2026[176] - OAS aims to achieve positive EBITDA in the second half of 2026[174, 180] - OAS projects revenue between $140 million and $150 million and EBITDA between $40 million and $45 million by 2030[180]

Company Overview and Financial Status - Crinetics has a strong financial position with $1.3 billion in cash, cash equivalents, and investments[31] - The company anticipates its first commercial launch this year and holds IP rights into the 2040s[31] Pipeline Programs and Focus - Crinetics is developing paltusotine, with a PDUFA date in September 2025, for acromegaly[27] - The company is developing CRN12755, a TSHR antagonist, for Graves' Hyperthyroidism and Graves' Orbitopathy (TED), with plans for an IND submission[123] - Crinetics is advancing CRN10329, an SST3 agonist, for Autosomal Dominant Polycystic Kidney Disease (ADPKD), with IND-enabling studies ongoing[150] - The company is developing CRN09682, a nonpeptide drug conjugate (NDC), targeting SST2-expressing tumors, currently in Phase 1/2 study[254] Market and Patient Reach - Graves' Hyperthyroidism affects over 3 million individuals in the US, with a significant portion developing TED[75] - ADPKD affects approximately 145,000 diagnosed patients in the US, with 50% developing end-stage kidney disease[130, 131] - The addressable patient population for Graves' Orbitopathy (TED) is up to approximately 170,000 incident cases[120]

Company Strategy & Market Opportunity - Lilly aims to provide freedom from diabetes, eliminate serious health issues caused by obesity, and reduce cardiovascular deaths[10] - The company estimates a significant addressable market of over 170 million patients by 2030 for obesity and related conditions[13] - Outside of the US, the addressable market is expected to be approximately 1 billion patients[15] Orforglipron Development Program - Orforglipron, a GLP-1 small molecule, has a broad development plan including studies for Type 2 Diabetes, obesity, hypertension, and obstructive sleep apnea[20] - In the ACHIEVE-1 trial, all three doses of orforglipron achieved superiority versus placebo in reducing HbA1c levels in patients with Type 2 Diabetes[27] - ACHIEVE-1 trial data showed significant reductions in HbA1c observed as early as 4 weeks, with approximately 3/4 of patients achieving an ADA HbA1c target of less than 7%, and 2/3 reaching HbA1c ≤6.5%[27] - ACHIEVE-1 trial also demonstrated dose-dependent reduction in body weight, with approximately 2/3 of patients achieving ≥5% weight reduction and approximately 1/3 achieving ≥10% weight reduction[30] - Topline results for ATTAIN-1, an orforglipron trial in obesity, are expected in Q3 2025[39] Retatrutide Development Program - Retatrutide is undergoing global development with the TRIUMPH program for obesity and related complications, and the TRANSCEND program for Type 2 Diabetes[41] - Topline results for TRIUMPH-4, a retatrutide trial in knee osteoarthritis pain and overweight or obesity, are expected in Q4 2025[48] Tirzepatide & Early Phase Pipeline - The SURPASS-CVOT trial is designed to evaluate tirzepatide against dulaglutide in patients with established cardiovascular disease[51] - Eloralintide, a selective amylin receptor agonist, showed weight loss up to 11.3% in Phase 1 trials and is well-tolerated with less than 10% incidence of GI side effects[60]

Company Overview and Financial Performance - Vericel is a leader in advanced therapies in sports medicine and burn care, combining innovations in biology with medical technologies[5] - The company has a strong financial profile with ~$162 million in cash and investments[9] - Vericel achieved GAAP Net Income positive in 2024[9] - The company is driving high revenue growth and targets high-70% gross margin and high-30% adjusted EBITDA in the mid-term[17] - The company experienced 20% top-line growth in 2024 and expects continued high revenue growth in 2025 and beyond[18] Market Opportunity and Product Expansion - The total addressable market (TAM) opportunity is expanding to over $5 billion in the years ahead[10] - The core TAM is ~$4 billion, with an expanded TAM of ~$5 billion[11, 12] - MACI Arthro, launched in Q3 2024, targets the largest segment of the current MACI addressable market[9] - MACI Ankle study is anticipated to initiate in 2025, potentially increasing the total MACI addressable market to $4 billion[9, 53] - NexoBrid, launched in the U S in Q4 2023, significantly expands the total addressable market in burn care[9]

INCA033989 Clinical Trial Results and Safety - INCA033989 demonstrated a favorable safety profile in ET patients, with only 1 out of 49 patients discontinuing therapy due to treatment-emergent adverse events [101, 135] - INCA033989 led to rapid and sustained normalization of platelet counts in previously treated ET patients [105, 135] - Hematologic responses were achieved early and sustained, with 86% of patients receiving ≥400 mg achieving a response [113, 115] - A reduction in peripheral blood mutCALR VAF was observed in 89% (34/38) of evaluable patients, correlating with hematologic responses [119, 120, 135] - Biomarker analysis supports a reduction in mutCALR stem/progenitor cells and megakaryocytes in patients achieving a hematologic response [121, 127, 135] INCA033989 Mechanism and Preclinical Data - INCA033989 is a high-affinity mutant CALR selective monoclonal antibody that selectively inhibits constitutive JAK/STAT signaling induced by mutCALR [94] - INCA033989 directly inhibits mutCALR+ CD34+ HSPCs and megakaryocytes, without affecting non-mutated, healthy cells [94] - In a mutCALR conditional knock-in mouse model of established MPN, INCA033989 treatment led to platelet normalization, reversal of anemia, and elimination of megakaryocyte hyperplasia in the bone marrow [90, 94] Essential Thrombocythemia (ET) and Unmet Needs - CALR mutations account for 25% of Essential Thrombocythemia cases [19] - Current ET treatments aim to reduce disease-associated risks but do not impact the natural history [26] - There is an unmet need for disease-modifying therapies in ET [25, 43] Future Development Plans - A registrational trial in ET is planned to be initiated by early 2026 [137]

Anito-cel Product Profile and Clinical Data - Anito-cel, a BCMA-directed CAR T-cell therapy, utilizes a novel D-Domain binder, potentially offering a best-in-class efficacy profile, differentiated safety, and rapid manufacturing[7, 8, 9, 15] - Phase 1 data showed a median Progression-Free Survival (PFS) of 30.2 months[17] - In the iMMagine-1 pivotal trial, the Overall Response Rate (ORR) was 97%, with a stringent Complete Response/Complete Response (sCR/CR) rate of 68%[92] - iMMagine-1 demonstrated a 6-month PFS rate of 91.9% and a 12-month PFS rate of 79.3%[98] - iMMagine-1 showed a favorable safety profile, with 85% of patients experiencing < Grade 1 Cytokine Release Syndrome (CRS) and 92% experiencing no Immune Effector Cell-associated Neurotoxicity Syndrome (ICANS)[17, 108, 118] Market Opportunity and Commercial Strategy - The Multiple Myeloma (MM) CAR T market is projected to reach approximately $12 billion in the 2L+ setting[7, 19, 21, 55, 61] - Arcellx anticipates a high gross margin of ≥70% at launch for anito-cel, with profitability achievable before reaching $1 billion in anito-cel sales[51, 55] - Post-approval, 90% of US Healthcare Professionals (HCPs) are motivated to prescribe anito-cel[30] - Anito-cel is expected to launch with a large Authorized Treatment Center (ATC) network, projected to be 160+ ATCs, leveraging Kite's infrastructure[17, 33, 62] - Payer coverage for anito-cel is projected to be >80% of US lives within 30 days and >90% within 90 days post-launch[45]